SUSTAINABILITY MANAGEMENT Sustainability Management
I-ne is committed to fulfilling our mission statement:We are Social Beauty Innovators for Chain of Happiness.
The materiality of I-ne Group
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Carbon Neutral
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Responsible Production and Transparency
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Circular Economy
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Forest and Water Conservation
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Well-being and Inclusion
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Poverty and Inequalities
Materiality and Goals of the I-ne Group
The table below shows our six material issues (issues that matter to society and our organization) and the medium- and long-term targets linked to these issues. We have revised or removed certain goals as we advance our strategy and the roadmap to achieve our goals becomes more concrete. We will continue to revise or add goals as necessary moving forward.
| Material issue | Goal no. | Goal | KPI | Target | Target year |
|---|---|---|---|---|---|
| 1.Carbon Neutral | 1 | Achieve carbon neutrality in scopes 1 and 2 | - | - | 2025 |
| 2 | Achieve carbon neutrality in scope 3 | - | - | 2040 | |
| 2.Responsible Production and Transparency | 3 | Sourcing transparency: Identifying the countries of origin and associated risks for plant-based ingredients used by key brands | % with transparent sourcing | 100% | 2025 |
| 4 | Sourcing transparency: New brands to conform with I-ne’s Sustainable Product Development Standards | % that are in conformity | 100% | 2025 | |
| 3.Circular Economy | 5 | All resellable cosmetic products to be resold | % that are resold | 100% | 2026 |
| 6 | Decrease use of virgin plastics in containers and packaging | % decrease | 30% | 2028 | |
| 7 | Use sustainable paper (paper that is certified or recycled) | % of sustainable paper used | 100% | 2025 | |
| 4.Forest and Water Conservation | 8 | 100% transition to certified sustainable palm oil (either physically sustainable or offset under the “book & claim” scheme) | % of palm oil that is RSPO-certified | 100% | 2030 |
| 9 | Engage in forest conservation | Project area | 50ha | 2028 | |
| 5.Well-being and Inclusion | 10 | Ensure employee well-being and inclusion | Employee satisfaction score | 4.0 | 2025 |
| 11 | Encourage employee volunteerism | Annual total of employees volunteering | 800 | 2025 | |
| 6.Poverty and Inequalities | 12 | Support people in financial distress | To be announced in 2024 | To be announced in 2024 | To be announced in 2024 |
One key alteration was in our carbon neutrality goal, updating the wording from “drive carbon neutrality” to “achieve carbon neutrality,” specifically for scopes 1 and 2, to emphasize our commitment.We also altered goals 5 and 8, adding details and bringing the target year forward. Additionally, we removed the goal related to responsible sourcing and transparency: “conduct an assessment among tier 1 suppliers.” We have conducted this assessment and the results are available on our supply chain webpage.
Materiality Identification Process
The material issues in the table above represent our strong commitment, as Social Beauty Iinnovators (innovators who strive to transform our society for the better), to make a positive impact. In 2021, we identified the key material issues we should focus on, considering the latest societal trends and stakeholder expectations. We will continue to regularly revise the set of material issues in response to social changes and business growth.
In setting and verifying these material issues, we follow the concept of double materiality,considering both the social and environmental impacts of our business activities, as well as the impacts of social and environmental factors uponthat affect our upon competitiveness and value creation.
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Identification of Societal Issues
With reference to GRI Standards, SASB (Sustainability Accounting Standards), and SDGs (Sustainable Development Goals), we identified social issues to consider.
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Organize "Stakeholder’s priorities"
Based on the identified social issues, we have organized hypotheses regarding the expectations and demands of our customers, business partners, investors, public administration, and NPO/NGOs towards the I-ne Group.
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Organize "Company’s priorities”
Based on the social contribution activities that the I-ne Group has engaged in so far and the brand MISSION upheld by our main brands, we have aligned the priorities of the I-ne Group with the priorities of our stakeholders.
While the I-ne Group recognizes that governance is certainly important for a listed company, it is not included in the Materiality.
Instead, it is structured in the Environment and Social category. -
Approval by management
After discussions amongst the management committee, validation by the Sustainability Committee, and resolution by the Board of Directors, we have identified the materiality.
Support for the UN Global Compact
In November 2022, the I-ne Group expressed its support for the Global Compact proposed by the United Nations.
We support the Global Compact's 10 principles on human rights, labor, environment, and anti-corruption in our corporate activities.
About the UN Global Compact
The United Nations Global Compact (UNGC) is the world's largest sustainability initiative, bringing together the United Nations and private sector entities (companies and organizations) to foster a healthy global society.
By enlisting the commitment of their top executives, companies and organizations that sign the compact are required to endorse and commit to the ten principles related to the protection of human rights, the elimination of unfair labor practices, environmental responsibility, and anti-corruption measures.
For more information on the UNGC, please visit the following website.